The faster retailers ran during the first half of 2008, the more inflation kept them pretty much in place, according to industry analysts, who said it may take a year or more before inflation subsides sufficiently for real sales and earnings growth to resume.
With inflation in food and, for some operators, fuel having a relentless impact on financial results, real sales growth was generally flat, and real earnings gains were absent during the first half as retailers passed through price ...
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